Xbox 360 drops below $200 in Japan

Microsoft announced price cuts for its Xbox 360 console. The Xbox 360 Arcade model will be available on September 11 for 19,800 ($183) - this makes the Xbox 360 the first current generation console to drop under the $200 price point.

The bare-bones Arcade unit -- it comes with no hard drive -- will be priced at 19,800 yen ($183), making it the first current-gen console to dip under the $200 level. Nintendo's Wii is currently priced at 25,000 yen ($230) in Japan.

A new model equipped with a 60GB drive will be priced at 29,000 yen ($275), replacing the current 20GB model which sold for 34,800 yen ($320). The Elite is getting a price reduction of almost $80, down to 39,800 yen ($367).